All in AI & Machine Learning
On Tuesday, the Consumer Financial Protection Bureau (CFPB) released a noteworthy blog post providing an update on key findings about the use of alternative data for credit access in connection with the Bureau’s first no-action letter (NAL). The post, written by top agency officials, discusses a NAL that the CFPB issued in September 2017 to Upstart Network, Inc., a company with an online lending platform that utilizes “alternative data” and machine learning to make credit decisions.
Recent developments in the U.S. and on the international stage suggest we’re moving into a new phase in regulatory approaches to artificial intelligence (AI) – one where countries are moving forward on determining whether and how AI will be regulated within and across sectors.
Under the President’s Executive Order on AI, the National Institute of Standards and Technology (NIST) is tasked with putting together a plan for federal engagement on developing standards for deploying AI technologies, and the agency confirmed Thursday that it is moving quickly to do so.
February was a busy month in privacy—from the federal government to the states, from legislatures to agencies, various governmental authorities have been hard at work on a diverse array of potential privacy approaches.
On Monday, President Trump issued an Executive Order launching the American AI Initiative, a coordinated strategy across the government to promote AI research, development, and deployment. The Executive Order follows initiatives by the White House Office of Science and Technology Policy (OSTP) to focus on the benefits that AI has to offer, encourage its development, and seek to maintain U.S. leadership in a rapidly developing area.
In case you missed it, the Food and Drug Administration (FDA) last month issued final guidance on its Breakthrough Devices Program, hoping to provide manufacturers more clarity on how the agency will evaluate the safety and effectiveness of devices that treat or diagnose life-threatening or irreversibly debilitating conditions.